Company 14: Net finance expense
|Net finance expense|TEUR#603|Finance income|TEUR#22,928|Finance expenses|TEUR#23,531
| In TEUR | 2011 | 2010 |
|---|---|---|
| Dividend income and income from other profit shares | 9.985 | 9.305 |
| Interest income on transactions with Group companies | 4.142 | 2.556 |
| Interest income on transactions with other companies | 750 | 1.439 |
| Change in fair value of interest rate swaps | 0 | 199 |
| Income from forward exchange transactions | 246 | 175 |
| Income from net exchange differences | 305 | 332 |
| Gain on disposal of subsidiaries | 3.306 | 0 |
| Gain on disposal of available-for-sale investments | 0 | 72 |
| Gain on liquidation of subsidiaries | 3.747 | 0 |
| Other finance income | 447 | 3.036 |
| Total | 22.928 | 17.114 |
Other finance income mostly includes income from commissions on loan guarantees issued to subsidiaries and third parties.
| In TEUR | 2011 | 2010 |
|---|---|---|
| Interest expenses on transactions with Group companies | 1.525 | 1.448 |
| Interest expenses on transactions with other companies | 13.442 | 8.440 |
| Expenses on interest rate swap transactions | 2.155 | 1.696 |
| Change in fair value of interest rate swaps | 0 | 0 |
| Expenses on forward exchange transactions | 0 | 2.625 |
| Change in fair value of interest rate swaps | 373 | 4.197 |
| Loss on disposal of available-for-sale investments | 0 | 865 |
| Impairment loss on investments | 1.242 | 523 |
| Impairment loss on trade receivables | 3.259 | 1.961 |
| Impairment loss on loans | 91 | 4.332 |
| Other finance expenses | 1.444 | 949 |
| Total | 23.531 | 27.036 |
The fair value of trade receivables and loans was provided by impairment of trade receivables and loans in the amount of TEUR 3,350 (2010: TEUR 6,293). Impairment loss on investments in the amount of TEUR 1,242 (2010: TEUR 523) relates to available-for-sale financial assets that were revalued to market value, and to impairment of the associate company Gorenje Projekt, d.o.o.
| In TEUR | 2011 | 2010 |
|---|---|---|
| Net change in fair value of available-for-sale financial assets | -91 | -101 |
| Net change in fair value of available-for-sale financial assets transferred to profit or loss | 0 | 112 |
| Net change in effective portion of gains and losses on hedging instruments in a cash flow hedge | -6.215 | 63 |
| Change in effective portion of gains and losses on hedging instruments in a cash flow hedge, transferred to profit or loss | 2.155 | 0 |
| Finance income / expense recognised in other comprehensive income | -4.151 | 74 |
Net effect from the statement of comprehensive income is shown in the above table: it does not, however, include a change in fair value of land.